What are the tax tables and how are they used to calculate my rate?
After three years of employment, each employer’s rate is calculated annually and is based on prior experience with employment and unemployment claims. The rate is based on the reserve ratio, which is a measure of the balance in the unemployment account compared to taxable payroll for the three prior years. The reserve ratio is determined by dividing the balance in the experience rating account by the total taxable payroll for the three prior years. The following are reserve ratios and corresponding rates (SDCL 61-5). South Dakota law also contains a “hold harmless” clause. It provides that your investment fee rate can be no greater than your 1987 fee rate, if your account had a positive balance at the end of the last two years.
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